News: Northern New England

Waters of Lang McLaughry brokers 5,700 s/f lease to U.S. Postal Service: Travers of CB Richard Ellis assists with long-term deal

Bruce Waters, CCIM, senior broker for LANG MCLAUGHRY COMMERCIAL, negotiated a long-term lease between Benning Street Square, Inc. and the U.S. Postal Service for space located at 66 Benning St. The 5,700 s/f facility combines a retail post office with a central carrier annex. The new post office is planned to open late this summer and will be joining other tenants including Granite State Glass, Apria Healthcare, Visiting Nurses of NH/VT and Dartware Software Co. Extensive renovations are being made to the leased facility, internally by the USPS. Waters said, "The vetting process to relocate to the new facility was enormous. To move the small retail facility from its historic location in the village of West Lebanon, to the shopping center district was analyzed and with the combination of the carrier annex and exposure to a larger market, it was determined to be the best choice." Assisting with the relocation was Jim Travers of CB Richard Ellis/New England.
MORE FROM Northern New England
Northern New England

November 2024 NH CIBOR president’s message: 10 tips for commercial real estate investors - by Ethan Ash

While many Realtors will tell you what you need to do in order to sell your residential property at the highest price (clean out the junk, update bathrooms and kitchens, paint, etc.) most people don’t get easy to follow guidance on what to do to help your commercial real estate sale. Other than that advice that I
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
The Greater Portland industrial mid-year market update - by Nate Roop

The Greater Portland industrial mid-year market update - by Nate Roop

The industrial market in Maine remains robust, characterized by historically low vacancy rates. As of early 2024, the vacancy rate across the state is below 2%, indicating a continued imbalance between supply and demand. This tight market environment has kept lease rates strong, with many landlords in a favorable position. Asking rates are trending around $10.50 per s/f for
Residential is here to untie the office space doom loop - by Thomas House

Residential is here to untie the office space doom loop - by Thomas House

The glut of unused (and to the owners, undervalued) office space because of the advent of work from home is in the process of becoming homes themselves. Though this is an officially supported trend in Boston and other northeast locations, the conversion
Interest rates and inflation - by Matthew Bacon

Interest rates and inflation - by Matthew Bacon

As we all know, interest rates have been changing drastically, with movement in both directions, depending on the type and term of financing. The Federal Open Market Committee has taken drastic action in efforts to curb abnormally high inflation, but it hasn’t controlled labor cost growth to the extent that was intended.

Maine multifamily outlook: Opportunities in Portland, Bangor, and Lewiston-Auburn - Blake Wright and Kristie Russell

Maine multifamily outlook: Opportunities in Portland, Bangor, and Lewiston-Auburn - Blake Wright and Kristie Russell

The multifamily market in Maine’s major cities presents a diverse range of opportunities for investors. We looked at the potential benefits and unique characteristics of three major submarkets in the state: Portland, Bangor, and Lewiston-Auburn. The information below is based on research done in CoStar and county registries, and focuses on multifamily properties that have four or more units.